Tl;dr: Part of a collection of real examples of M&A investment banking slides. This blog covers Volume Weighted Average Price. See the PowerPoint presentations investment bankers are paid millions for. No matter your job, or your aspirations, you can learn from these slides.
This is part of a collection of 67 free M&A presentations from the top 20 banks (based on ranking, and also the quality of presentation for you to learn from).
Collection of M&A slide examples
The main page for all the M&A resources is here.
I have broken out 827 examples of slides across 32 sections. You can click through to the section you want to learn about next here:
Is this blog for you?
Why the heck should you care? Investment banks (historically) attracted the best and the brightest.
- Slide structure/design: Learn how complicated concepts are structured and designed in PowerPoint
- Analysis approach: See exactly how complex financial methods are presented
- Strategy and communication: M&A deals are not (normally, other than many Duff and Phelps decks) cookie cutter. There’s a host of topics that need to be dealt with
- Morbid interest: I used to do this for a living, but it’s still interesting to see how PPT are made… but then maybe it’s just me and so FML š
Who this will help:
- You want to work in banking: There’s a lot of applicants. Knowing the job helps you answer questions
- You work in banking: Even if you’re an MD, you need to know how the best are structuring their thoughts/analysis
- You write presentations: You can’t buy learnings like this. You can learn from the slides
- You have a curious mind: Good for you
About Volume Weighted Average Price
VWAP means Volume-Weighted Average Price. This is theĀ average price of a stock weighted by the total trading volume. The VWAP is used to calculate the average price of a stock over a period of time. So what?
Well, let’s say you’re into shitcoin. They talk about the average price they are in. Meaning are they making money with the volatile ass prices?
Now, what about M&A transactions?
Well, you have institutional investors and they want to make money. So if they are in at VWAP of $10 and the deal is for $8, well, they’re not going to be happy with the 20% loss are they?
Now if you do that for all you major investors you will know what price range you need to get them interested.
You’ll likely do a ‘premiums paid analysis’ to figure out the kind of price range you need to offer above the undisturbed and/or current price to get investors interested based on their VWAP.
Why these slides are made
I only ever had to do this analysis once when I was doing an IPO. This falls into ECM territory. If you can explain VWAP better, help me out š
Comments on making these slides
It’s a fairly simple concept. You pull out the data from Bloomberg etc. You use an excel template (You can get a free VWAP Calculator here) and it churns out the data. From there you can do a shareholder analysis etc, and oh joy.
Examples of Volume Weighted Average Price
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